Why might you consider a Balance Transfer?

Balance transfers can help:

• Save you money on interest, if you are eligible for a promotional balance transfer rate
• Reduce the annual fees you pay, if you consolidate multiple credit cards balances in one and close other cards
• Combine multiple monthly payments into one, if you do a Balance transfer from multiple credit cards or personal loan products.

But you should remember, that they can’t:

• Pay your debt faster; it’s up to you to pay off your credit card by repaying more than just the minimum amount every month
• Eliminate all annual fees, as you may still be required to pay for the annual fee of the credit card you wish to bring all the balances to
• Eliminate all interest, as you may still be charged interest on purchases you make or if you don’t repay your account balance by the end of the promotional period
• Stop your monthly repayment obligations, as you will still be required to pay the minimum payment for the credit card you wish to make the balance transfer to